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by Stephen Carter
Oct 22, 2025 2:07 PM ET
EM/HY: DIGI Romania SA (RCSRDS) EUR600m (up from EUR500m) 144A/Reg S sr sec notes due 10/29/31 (6y). NC2 (10/29/27) (B+50bp), then at 102.3125 10/29/27, 101.15625 10/29/28, 100 10/29/29. Equity claw: 2y 40% at 104.625. Special call: 10% per year the first 2 years at 103. NR/BB-/BB+ (--/stable/stable). Via Barc/Citi (B&D) jt glocos and physical books/ING/Santander/SocGen/UniCredit jt books. No reg rights. List Dublin. NY law. CoC at 101. Pays Apri 29 and Oct 29, starting 04/29/26 (30/360). Denoms: 100kx1k. Settless 10/29 (T+5). Reg S ISIN: XS3216614084. IPT: high 4s. Price talk: 4.625%-4.750% WPIR. EUR100m upsize to repay debt. Final terms: EUR600m at 4.625% yield.
Priced: 4.625% at 100. +242bp vs DBR 0.00% 08/15/31.
Roadshow (1x1 investor calls and meetings on request) 10/20-21 (investor call 11:30am UKT 10/20). Books closed at 2:30pm UKT 10/22. Reconfirms were due 4:15pm UKT 10/11. UOP: redeem its EUR400m 3.25% sr sec notes due 02/05/28 (callable at 100), partially repay EUR56m of its term loan A, and EUR28m for GCP. (EUR100m upsize to repay debt) Biz: a leading Romanian TelCo operator with over 70% market share in pay-TV and fixed internet in Romania and the fastest growing large operator in Spain, with over 10% market share. HQ: Bucharest, Romania. Note: this is an emerging markets issuer (Romania) and will not count towards Euro high yield volume.
Netroadshow link: https://urldefense.com/v3/__https:/www.netroadshow.com/events/login/LE9zwo3gJP0Qdk7n4ttUFi7SktAB2v1MGqS__;!!G7x19LdBoP0e!lhPR_Qdc7wIr6trFUl3sSpKB8YAcvNEQPj-A_khVFiQKBUIdhnV-JrvBIlLPt77yjPHtrbNeLPXzSv5hcQJQNHC7uQ$